Disney sees 'John Carter' causing Q2 studio loss

WilliamLaunder

NEW YORK (DOW JONES) -- Walt Disney Co.
DIS, +1.43%
Monday warned its studio segment would book a loss of up to $120 million in the second quarter because of the poor box-office performance of its newly released science-fiction film "John Carter."

In a statement, Disney said its studio segment would book an operating loss between $80 million and $120 million in the second quarter based on an estimated $200 million loss from "John Carter."

The warning confirmed skepticism from industry observers and Wall Street analysts, who have said the interplanetary film was too expensive and too quirky to market effectively. Disney spent $250 million to create "John Carter," according to reports and estimates.

Since its release earlier this month, "John Carter" earned $184 million in global box offices. It was beaten in theaters by "Dr. Seuss' the Lorax," from Comcast Corp.'s (CMCSA, CMCSK) Universal Pictures and more recently by Sony Corp.'s (SNE) movie remake of "21 Jump Street."

Disney shares closed Monday 0.6% higher at $43.44; the shares are up 5.4% over the last 12 months.

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